According to SMM statistics, as of June 13, the aluminum ingot inventory in Guangdong was 181,000 mt, in Wuxi was 108,000 mt, and in Gongyi was 45,500 mt, with a total inventory of 334,500 mt across the three locations, a decrease of 4,500 mt from the previous trading day. The core driver of destocking lies in the continued tightness on the supply side. Strategic adjustments by aluminum plants in multiple northern regions and some aluminum smelters in south-west China have led to a MoM decline in casting ingot volumes. Coupled with the consistently low volumes of aluminum ingots in transit and actual arrivals in major consumption areas, this has collectively resulted in a tight supply of circulating goods. Although there are expectations of a slight increase in shipments from north-west China and inter-regional transfers due to price spreads, the short-term increase has not yet caused significant pressure. It is necessary to monitor whether there will be a notable increase in arrivals in east China in the future. Meanwhile, the resilience of consumption during the off-season (particularly in east China) has effectively absorbed the recent lower supply. Looking ahead, it is expected that inventory will continue to destock under the support of low arrival volumes in the short term.